Economy
Flash Steelworks Breaks Ground in Kentucky
Written by Becca Moczygemba
October 14, 2022
Flash Steelworks, Inc. is breaking ground on a $12.1 million armor and military-grade plate manufacturing facility in Middlesboro, Ky., the company said in an Oct. 12 release.
“Starting in Middlesboro, we will deploy leading-edge advanced steel technology and products in what is planned to be a regional industrial hub,” said Gary Cola Jr., founder, and chief technology officer of Flash Steelworks. “This new facility is just a first step toward bringing many truly high-paying, long-term jobs to Southeast Kentucky to the benefit of all.”
Over the next 15 years, the manufacturer is slated to create 250 new jobs in Kentucky, with 100 of those positions opening in the next three years.
The Washington Township, Mich.-based company uses a specialized electronic/thermal process to produce high-strength, formable, weldable steel. The material’s tensile strength ranges from 1500-1800MPa, that can provide ballistic and blast protection with reduced weight and thickness. In addition to armor plate, Flash Steelworks offers coils and tubing and bar products.
By Becca Moczygemba, Becca@SteelMarketUpdate.com
Becca Moczygemba
Read more from Becca MoczygembaLatest in Economy
ISM: Manufacturing still contracting, but at slower pace
“U.S. manufacturing activity contracted again in December, but at a slower rate compared to November,” according to Timothy Fiore, chair of the ISM Manufacturing Business Survey Committee.
Construction spending steady in November
Construction spending inched higher in November for a second straight month.
Chicago Business Barometer falls for a third month
The December reading of 36.9 declined 3.3 points from the previous month to the lowest reading since May 2024.
ISM: US manufacturing poised for growth in 2025
“Manufacturers are optimistic,” said Timothy R. Fiore, chair of ISM’s Manufacturing Business Survey Committee.
New York state manufacturing activity stable in December
Following a substantial recovery in November, business activity in New York state’s manufacturing sector held steady in December, according to the latest Empire State Manufacturing Survey from the Federal Reserve Bank of New York.